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First trade of the day 100000 Buy at 11.38p. Gold remains above 2000..

Currently back at 11.25p as a number of large buys are coming in taking the volume to 6.5 million.

With gold above 2000 it will be very disappointing if SHG does not close at or above the days high of 11.25p, which it has achieved twice already today. Volume looking to exceed 6 million by the close as it’s already 5.8 million.

Gold has just hit 2000.

SHG taking a breather as the gold price pulled back slightly. Just 12 trades since 10am as SHG sits Up 3.7% as volume hits 4 million. Let’s see if interest returns this afternoon if the general market starts to recover.

Now Up 4.7% at 11.25p which is equal to the previous closing high on 31st October. On that day the volume was 4.7 million, so far today the volume is 3.6 million. This is looking very promising for a new closing high since the Oder induced fall.

We may be overdue but it is outside CHAR’s control because it involves Government approvals. The first of these was the EIA 3 weeks ago as per this from the RNS:

“ Pierre Raillard, Head of Gas Business and Morocco Country Director at Chariot commented:

"Securing approval of this EIA is a major milestone for Anchois and is the culmination of extensive time and teamwork that has gone into this critical process. This is a key building block for sanctioning the project's development, alongside other activities such as our partnering process which is close to conclusion. On behalf of Chariot, I would like to thank the National Environmental Committee and the Ministry for their endorsement and support. I would also like to thank the Chariot team, our partner ONHYM and our consultants who collaborated so closely across all workstreams. We are fully committed to ensuring that Anchois is developed in line with best practice as set out in the report."

That RNS set the end game in progress as it was a prerequisite for the 2 further Government approvals we have been told are very close just awaiting a final signature. There is no suggestion that there is an issue with the final approvals which should land any day now. Clearly the Partner and Financiers will want all those approvals in place before they announce and commit. I imagine they are conditions precedent to deals that are already agreed. Keep checking for RNS at 7am each morning.

News must be highly likely this week as tomorrow,Tuesday will be 3 weeks into “our exciting weeks ahead”, which was said at the time of the last RNS announcing EIA approval for Anchois. Volume is up on Thursday and Friday at 1.2 million.

I listened to the first part as well so the full 48 minutes. It is interesting comment on the metals and precious metals sector particularly with regard to Junior Miners. They think gold is firmly in a bull market but we are not seeing the level of activity you would expect with large miners picking up the juniors with near term production that will be available in this bull cycle. It is however starting and the outlook is becoming more promising for metals as well as precious metals even though metals are not in the bull cycle that gold is in. Jurisdictional risk is considered by potential acquirers but it is well down the list. If you have the time it provides food for thought on where we are in the cycle of commodities investment and they have become a lot more positive having made their first 3 investments of 2023 in the last six weeks.

It is an extremely stupid comment to suggest that the current delay is due to the Zubairs. There are 2 outstanding signatures required from the Government of Tanzania in order for ARA to proceed which are due imminently. It is not within the ARA’s power to force those signatures from the Government but the Government would be shooting itself in the foot if it didn’t provide them soon so they will have the gas they need for their new pipeline. ARA have equipment arriving for the drill so they are doing everything possible to be able to start as soon as the Government sign off. Some earlier delay was due to getting the SCIR share transferred but the Government recently fully approved that and that will enable the new license to be issued without SCIR’s name on it. An RNS any day seems highly likely.

A good start Up 5.9% on volume of 283000 from just 17 trades. It has gone very quiet after that first flurry of trading with no trades since 9.55am over 2.5 hours ago. Perhaps we will see some more interest this afternoon as we anticipate news. Personally I would expect any price sensitive news to be released prior to the AGM, so during this week.

The volume is low at 200000 although it is above yesterday’s lowest volume in memory of 166000. We have just had the largest trade of the day accounting for 25% of the volume a 50000 O trade buy at 15.199p. So you still need to pay over 15p for a decent sized buy even though we are priced to the last AT trade 14.82.

The low volumes suggest everyone has taken their positions are are waiting for the news which must be highly likely next week as Tuesday will be 3 weeks into our exciting weeks ahead.

It is worth reminding ourselves why those of us who are not shorting this share are invested here. So here is a summary of CTL’s prospects from a well respected analyst:

“This company has electrifying potential

A lithium company is progressing two major projects and is significantly undervalued

October 2, 2023

by Simon Thompson

CleanTech Lithium (CTL:49p), a lithium company in Chile, has released the results of a recently completed scoping study at its second major lithium project in Chile, Francisco Basin.

Based on annual production of 20,000 tonnes of battery-grade lithium carbonate, the $450mn (£369mn) capital expenditure project is expected to generate cumulative net cash flows of $2.5bn over a production life of 12 years. The forecasts are based on the current Joint Ore Reserve Committee (JORC) resource estimate of 0.92mn tonnes of lithium carbonate equivalent (LCE) at a grade of 207mg/lithium. CleanTech will start a drilling programme at Francisco Basin in the final quarter of 2023, the results of which should enable it to extend the production life and enhance the project’s economic returns.

The scoping study also highlighted a 31-month payback period of the capital expenditure based on a long-term lithium carbonate equivalent (LCE) price of $22,500 per tonne. Even after a 45 per cent decline in the LCE price since mid-July 2023, the current spot price of $23,200 per tonne is still more than six times higher than the project’s operating cost of £3,641 per tonne, highlighting the hefty ‘margin of safety’. Indeed, the project's post-tax net present value (NPV) of $1.1bn (based on an 8 per cent discount rate) generates an internal rate of return of 43 per cent on capital invested. Even assuming a 10 per cent discount rate, the post-tax NPV is still $0.89bn. Expect further positive newsflow in the coming months when a direct lithium extraction (DLE) pilot plant comes on stream with the intention of producing one tonne of LCE per month.

Progress at Laguna Verde project

Moreover, Francisco Basin is located within 100km of the group’s more advanced Laguna Verde project. In July 2023, Laguna Verde announced a 20 per cent increase in its JORC-compliant resource of 1.8mn tonnes of LCE, of which 63 per cent is in the all-important measured and indicated category. Laguna Verde is due to commence a pre-feasibility study in early 2024, thus enabling CleanTech to enter substantive discussions on strategic partners, offtake arrangements and financing to further progress the project. By the year-end, the group will have invested $20mn (£16.3mn) in progressing both projects since the start of 2022. They now have a combined NPV of $3bn.”

I also bought more earlier this week. We have the odd poster mentioning cash calls so I will repost an extract from the Half Yearly report RNS on 29th September:

“ Finally, we have acquired the necessary funds via our equity placing in April 2022 to ensure our running costs are covered (before one-offs and exceptional items) until the projected receipt of Ruvuma gas revenues.

Ruvuma PSA

The farm-out completed with APT in October 2020 carries the Company to material levels of production and revenue without the need to return to shareholders for additional funding for the development of the Ntorya field. This revenue is now projected sooner, given the acceleration of production agreed upon between the operator and the Tanzania Petroleum Development Corporation. The Company holds a 25% interest in the Ruvuma PSA with a US$35 million carry of its share of costs. The carry, equivalent to US$140 million of gross field expenditure, is expected to see the Company through to potentially significant gas production volumes with commensurate revenues. ”

The derampers only appeared yesterday as the sp rose for a second day. The deramper in chief posted 8 times yesterday and returned before trading started this morning. He has not previously posted about CTL. He keeps using a negative header and going on about a cash call which is a favourite from the derampers handbook.

Here is some actual news from the last RNS rather than very unsubtle deramping attempting to dominate and disrupt the bb with negativity.

“ The Company is progressing the Pre-Feasibility Study (PFS) at its major Laguna Verde project which will incorporate the results from extensive test work over six months using the lab scale multivalve DLE system. In addition, the DLE Pilot Plant and downstream process plant to produce battery grade lithium carbonate will enable the Company to advance discussions with potential strategic partners who can support the development and financing of the Company's projects.

Highlights:

- Delivery of final components of the DLE Pilot Plant at CTL's warehouse facilities in Copiapó means the pilot plant can be fully assembled and testing starts.

- Technicians from Sunresin are scheduled to visit at the end of November 2023 for the final testing and commissioning phase.

- The DLE Pilot Plant is designed to produce up to 1 tonne per month of lithium carbonate equivalent (LCE) in concentrated lithium eluate which will be processed to battery grade lithium carbonate at an existing third party facility.

- Samples of the product will be made available to potential strategic partners and offtakers, such as major auto and battery manufacturers, for testing and product qualification.

- Recently, a team from CTL's senior leadership visited several DLE operations in China. The visit demonstrated how rapidly DLE technology is advancing.

- CEO Aldo Boitano, Non-Executive Director, Maha Daoudi and DLE Process Manager, Rodrigo Rivas, visited DLE operations and manufacturers spanning the DLE supply chain to see first hand the commercial application of the technology in China.”

I agree that I don’t recall seeing turnover this low. Just 22 trades of which only 4 are small AT trades for a volume of 102000 with just 50 minutes of trading left. I am just hoping we can close above 15p again as we await news on a poor day for markets generally.

If you want to pick out statements from a more recent RNS on 8th November:

“ The Company is progressing the Pre-Feasibility Study (PFS) at its major Laguna Verde project which will incorporate the results from extensive test work over six months using the lab scale multivalve DLE system. In addition, the DLE Pilot Plant and downstream process plant to produce battery grade lithium carbonate will enable the Company to advance discussions with potential strategic partners who can support the development and financing of the Company's projects”

Note particularly the second sentence which refers to “advance discussions with potential strategic partners who can support Development and FINANCING” . Advance means the discussions are already underway with more than 1 potential strategic partner.

For those who are telling you financing will not be available look at this article today on ASX News:

“ Galan Lithium (ASX:GLN) shares are up nearly 20 per cent in early morning trade on Thursday

The move comes following an offtake execution deal

World mining giant Glencore will offtake lithium from Galan’s flagship project

That project is set to produce in 2025

Glencore is also offering a US$70-100 million loan facility to fast-track phase one construction

Shares last traded at 82 cents”

Don’t you just love the arrival of the deramping traders who have missed the bottom or need to close their shorts.

Good to see yesterday’s rise continuing with CTL close to the top of the Leaderboard for the second day running. Currently Number 5 on the Leaderboard Up 15% on volume of 648000. This rise has some way to go just to get back to the 50p level at the start of October never mind February’s 89p.